Barclays Lowers Lululemon Athletica (NASDAQ:LULU) to Equal Weight

Barclays cut shares of Lululemon Athletica (NASDAQ:LULU) from an overweight rating to an equal weight rating in a report published on Monday morning, Marketbeat Ratings reports. Barclays currently has $395.00 price target on the apparel retailer’s stock, down from their prior price target of $546.00.

Several other equities analysts have also recently weighed in on the stock. Guggenheim decreased their price target on shares of Lululemon Athletica from $550.00 to $525.00 and set a buy rating for the company in a research note on Friday, March 22nd. BMO Capital Markets raised their target price on shares of Lululemon Athletica from $408.00 to $420.00 and gave the company a market perform rating in a research note on Friday, March 22nd. Morgan Stanley decreased their target price on shares of Lululemon Athletica from $539.00 to $490.00 and set an overweight rating for the company in a research note on Friday, March 22nd. Needham & Company LLC decreased their target price on shares of Lululemon Athletica from $525.00 to $500.00 and set a buy rating for the company in a research note on Friday, March 22nd. Finally, Truist Financial decreased their target price on shares of Lululemon Athletica from $561.00 to $498.00 and set a buy rating for the company in a research note on Monday, March 25th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $476.57.

Lululemon Athletica Stock Down 1.7 %

Shares of LULU opened at $354.40 on Monday. The stock has a market capitalization of $44.66 billion, a P/E ratio of 29.03, a P/E/G ratio of 1.29 and a beta of 1.30. Lululemon Athletica has a twelve month low of $326.93 and a twelve month high of $516.39. The company has a 50 day moving average of $405.40 and a 200-day moving average of $438.38.

Lululemon Athletica (NASDAQ:LULU) last issued its quarterly earnings results on Thursday, March 21st. The apparel retailer reported $5.29 earnings per share for the quarter, topping the consensus estimate of $5.00 by $0.29. The company had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.19 billion. Lululemon Athletica had a net margin of 16.11% and a return on equity of 44.41%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned $4.40 EPS. On average, sell-side analysts anticipate that Lululemon Athletica will post 14.15 earnings per share for the current fiscal year.

Insider Activity at Lululemon Athletica

In related news, Director Martha A. M. Morfitt bought 700 shares of Lululemon Athletica stock in a transaction that occurred on Tuesday, March 26th. The shares were acquired at an average cost of $389.29 per share, for a total transaction of $272,503.00. Following the completion of the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately $194,645. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lululemon Athletica

Institutional investors have recently added to or reduced their stakes in the business. Valley National Advisers Inc. lifted its stake in Lululemon Athletica by 600.0% in the fourth quarter. Valley National Advisers Inc. now owns 49 shares of the apparel retailer’s stock valued at $25,000 after buying an additional 42 shares during the period. Tidemark LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter worth approximately $26,000. Morton Brown Family Wealth LLC acquired a new position in shares of Lululemon Athletica during the fourth quarter worth approximately $31,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Lululemon Athletica during the fourth quarter worth approximately $31,000. 85.20% of the stock is owned by institutional investors and hedge funds.

About Lululemon Athletica

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.